This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Montage Technology Reports Fourth Quarter And Fiscal 2013 Financial Results

SHANGHAI, China, Feb. 20, 2014 (GLOBE NEWSWIRE) -- Montage Technology Group Limited (Nasdaq:MONT) ("Montage Technology"), a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, today announced financial results for the fourth quarter and full year ended December 31, 2013.

Fourth Quarter 2013 Highlights:
  • Attained record revenue of $35.4 million, an increase of 17.9 percent sequentially and 49.5 percent year-over-year;
  • Reported 62.4 percent gross margin and 25.1 percent operating margin;
  • Achieved GAAP net income per diluted share of $0.31, and non-GAAP net income per diluted share of $0.37;
  • Increased set-top box (STB) product revenue by 11.0 percent and memory interface product revenue by 85.8 percent over the third quarter; and
  • Generated cash from operations of $12.6 million.

Full Year 2013 Highlights:
  • Increased revenue by 41.7 percent to $110.9 million from $78.2 million in 2012;
  • Reported 63.2 percent gross margin and 24.4 percent operating margin;
  • Achieved GAAP net income per diluted share of $1.06, compared to $0.66 per share in 2012;
  • Non-GAAP net income per diluted share of $1.26, compared to $0.72 per share in 2012;
  • Grew set-top box product revenue by 34.0 percent and memory interface product revenue by 165.1 percent;
  • Generated cash from operations of $35.7 million; and
  • Completed the company's IPO on October 1, 2013, with net proceeds of $46.9 million.

Fourth Quarter 2013 Results

Commenting on the results, Stephen Tai, Montage Technology's president stated, "Fourth quarter revenue exceeded our original expectations, growing 18% sequentially and 50% year-over-year, and was further highlighted by solid gross and operating margin performance. Our results were driven by an 11% sequential increase in our set-top box products, combined with an 86% increase in memory interface revenue with the ramping of our LRDIMM products.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs